Overhang of Tune Ins shares if Tune Group divests stake

KUALA LUMPUR: CIMB Equities Research views reports that Tune Group, the investment firm backed by AirAsia Holdings founder, Tan Sri Tony Fernandes, is considering selling its shares in Tune Ins could lead to a share overhang.

It said on Monday Tune Group’s intention to divest its stake “came as a surprise to us as this is one of its major investments that has been generating strong and consistent cash flows for Tune Group”.